The aim of this paper is to illustrate, for the first time, the performance of optimal perfectly competitive investment strategies based on option games in dry bulk shipping. Using a dataset of the Capesize market development over the period January 2000-May 2013 the author derives the stochastic dynamic equilibrium in that market. Moreover, the author examines the effect of newbuildings completion delays and finds that moving from completion delays to no time-to-build reduces the trigger value. The current analysis brings about additional insights and helps explain the existence of boom-and-bust cycles in shipping.


    Zugriff

    Zugriff über TIB

    Verfügbarkeit in meiner Bibliothek prüfen

    Bestellung bei Subito €


    Exportieren, teilen und zitieren



    Titel :

    Optimal investment timing in the dry bulk shipping sector


    Beteiligte:

    Erschienen in:

    Erscheinungsdatum :

    2015




    Medientyp :

    Aufsatz (Zeitschrift)


    Format :

    Print


    Sprache :

    Englisch



    Klassifikation :

    BKL:    85.00 / 55.82 Güterverkehr



    Optimal investment timing in the dry bulk shipping sector

    Gkochari, Christiana C. | Elsevier | 2015


    Optimal chartering and investment policies for bulk shipping

    Gonçalves, Franklin de Oliveira | DSpace@MIT | 1992

    Freier Zugriff